Paypal foreign exchange fee

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  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
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    Eric_Pisch wrote: »
    the card company pay paypal not the merchant

    however if paypal charge in sterling what currency conversion is there to justify the charge?
    They will have to make international payments to buy and sell Sterling
    to meet their obligations just like any other currencies.
  • tonyb007
    tonyb007 Posts: 31 Forumite
    edited 13 December 2009 at 1:52AM
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    Item was listed on eBay in GBP. Paid for in GBP in eBay and confirmed GBP in Paypal.

    I've just found the same on my Argos card bill today! A foreign exchange fee for something I bought in GBP!!

    However, on the same bill are several transactions for Paypal and only one has this exchange fee linked to it. I've used other cards (VISA and Mastercard and my bank account) and none of them have ever been hit with this fee!

    Can anyone advise if they managed to claim back the fee from either Argos Mastercard or Paypal or eBay?

    Thanks

    (p.s.
    to Martin Lewis: I took this Argos card out following your recommendations...I've found this adding of a fee seems to be very regular with it unfortunately! Can you please look into it and advise us? If it is a sly fee Argos are adding when they shouldn't be, please remove or update your recommendation for the card and replace it with a warning so other like us don't get stung by these hidden fees).
  • dtaylor84
    dtaylor84 Posts: 648 Forumite
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    jonesMUFCforever wrote: »
    They will have to make international payments to buy and sell Sterling
    to meet their obligations just like any other currencies.

    What?

    They pay paypal in GBP, they get paid in GBP. There is no "buying and selling" of currency to be done.
  • INT1
    INT1 Posts: 1,257 Forumite
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    So what is the best card to use on PayPal?!

    I have used AMEX and although it has:
    PAYPAL ****** SG Singapore SNG 88849
    November 22 £42.77
    On the AMEX statement, I don't get charged a fee, so this is costing me the same I take it?

    What I was purchasing cost £58.50 but I already had some credit in the Pay Pal account.

    So if I had used a different card would it of been slightly less?
  • INT1
    INT1 Posts: 1,257 Forumite
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    Edit that,

    This is what is showing on my PayPal account

    Funding Type:
    PayPal Funds and Credit CardFunding Source:
    £15.73 GBP - PayPal Account
    £42.77 GBP - American Express Card XXXX-XXXXXX-X1002
    This transaction will appear on your statement as "PAYPAL *****".

    So even though it has the blurb about singapore it's cost me the same in sterling.

    Bit confusing imo.
  • tonyb007
    tonyb007 Posts: 31 Forumite
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    Complaint logged - told to expect an initial response within 72 hours apparently so let's see how I get on...
  • footboy
    footboy Posts: 72 Forumite
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    tonyb007 wrote: »
    (p.s.
    to Martin Lewis: I took this Argos card out following your recommendations...I've found this adding of a fee seems to be very regular with it unfortunately! Can you please look into it and advise us? If it is a sly fee Argos are adding when they shouldn't be, please remove or update your recommendation for the card and replace it with a warning so other like us don't get stung by these hidden fees).

    Martin's site information
    I agree. I take this site on trust that all the nitty gritty has been looked at. That's worked so far except on this deceiver of a card. I didn't need a credit card but the cashback thing seemed like a good idea.

    Is there not a forum for suggestions?

    Interest on cash purchases
    I'm also still being charged interest on a competition entry that has been treated as cash. Apparently this will roll on and on ad-infinitum unless I don't use the card and pay off the balance - which I tried to do but they then reduced my pay card off in full direct debit amount to compensate and so the cash figure is still outstanding. Arg!

    Therefore the 'pay card off in full direct debit' apparently doesn't!!

    'Cash' purchases roll and roll so you get stung month by month for the same purchase.

    0845 activations
    I'm going to have to be so careful using this card as it simply doesn't pay. Going to see how much the 0845 activation number costed me too as that also eats into your cashback.

    The Paypal (lux) fees are ridiculous. I'll be interested in the reply you get from your complaint.
  • burgesst
    burgesst Posts: 43 Forumite
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    I've just been stung by Argos too.

    What a scam.

    Still, their 'gain' of 70p means that I will be cutting up the card as soon as practical. Vote with your feet, people!
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
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    dtaylor84 wrote: »
    What?

    They pay paypal in GBP, they get paid in GBP. There is no "buying and selling" of currency to be done.
    There is as they are based in Luxembourg are they not?
  • dtaylor84
    dtaylor84 Posts: 648 Forumite
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    jonesMUFCforever wrote: »
    There is as they are based in Luxembourg are they not?

    So? They could be on Mars, for all the difference it would make. The credit card company give paypal GBP. They are given GBP by the cardholder. There is no buying or selling of currency!
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